Financial News: South Korea Manufacturing Sector Bounces To Expansion -

South Korea Manufacturing Sector Bounces To Expansion - S&P Global

06/02/2024 - 20:39:00 (RTTNews)

(RTTNews) - The manufacturing sector in South Korea swung back up into expansion territory in May, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.6.

That's up from 49.4 in April and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Marked accelerations in growth across the headline PMI's two main components - new orders and output - were principally behind May's rejuvenation, sub-index data showed. Having been broadly stagnant in both March and April, production expanded solidly and at the sharpest pace since July 2021.

Stronger demand was cited as a key contributor to output growth, anecdotal evidence showed. New factory orders likewise picked up noticeably in May, with total sales rising to the quickest extent since February 2022.

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